XAUUSD: Elliott wave research and forecast for 30.06.23 – 07.07.23

Major state of affairs: believe quick positions from corrections underneath the extent of 1937.93 with a goal of 1836.74 – 1782.50.

Choice state of affairs: breakdown and consolidation above the extent of 1937.93 will permit the pair to proceed the get up to the degrees of 1973.80 – 2022.28.

Research: at the day-to-day chart, a problem correction probably completed growing because the fourth wave of bigger stage (4), and the 5th wave (5) is forming. It appears, the primary wave of smaller stage 1 of (5) is shaped at the H4 chart, and an area correction is growing as the second one wave 2 of (5). Wave c of two is forming at the H1 chart, with wave (iii) of c proceeding growing as its phase. If the presumption is proper, the pair will proceed to drop to the degrees of 1836.74 – 1782.50. The extent of 1937.93 is significant on this state of affairs as a breakout will permit the pair to proceed emerging to the degrees of 1973.80 – 2022.28.

Worth chart of XAUUSD in actual time mode

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